Tennessee § 30-2-319 - Time for payment of claims.

§ 30-2-319. Time for payment of claims.

All uncontested claims and all contested claims that have been finally adjudged and allowed shall be paid by the personal representative as soon as practicable (not in any event to exceed ninety (90) days) after the expiration of the date on which the personal representative could file an exception to the claim pursuant to § 30-2-314(a) , if, after having segregated sufficient assets to meet the contingent liabilities referred to in § 30-2-317 , adequate assets are in the personal representative's hands for this purpose, payment being made according to the classification of the claims. Acts 1939, ch. 175, § 4; 1941, ch. 62, § 1; 1947, ch. 137, § 4; C. Supp. 1950, § 8196.5 (Williams, § 8196.4); Acts 1971, ch. 229, § 6; T.C.A. (orig. ed.), § 30-523; Acts 1997, ch. 426, § 8; 2012, ch. 886, § 7. Compiler's Notes. Acts 1997, ch. 426, § 26 provided that the amendments to this section by that act shall apply to all estates of decedents dying on or after January 1, 1998, and to all wills, other documents and proceedings related thereto. Cross-References. Early payment of claims, § 30-2-318 . Textbooks. Pritchard on Wills and Administration of Estates (4th ed., Phillips and Robinson), §§ 788, 1144. Collateral References. Presumption of payment from possession by debtor as administrator to creditor, of paper evidencing obligation. 70 A.L.R. 879 , 156 A.L.R. 777 . Relation back of letters testamentary or of administration to cover payment of debts and legacies before letters are granted. 26 A.L.R. 1366 . Renewal note made or indorsed by personal representative of obligor in original paper as payment or novation of that paper. 12 A.L.R. 1546 .